JOHANNESBURG - The International Monetary Fund has downgraded South Africa’s growth for this year to 1% from 1.5%.
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This as the country grapples with geopolitical issues and Government of National Unity instability.
Siphamandla Mkhwanazi, senior FNB economist, says the unemployment rate is unexpectedly high.
In general, the first quarter of the year tends to be a seasonal boost in terms of unemployment, particularly in the retail sector.